Your home used to be PERFECT.
But now you need to.....
-OR-
MOVE?
-
What is the current market value of your home?
-
How do the following impact your net proceeds: house preparation costs, realtor's commissions, inspection repairs, legal fees, conveyance taxes?
-
How much does your dream home cost?
-
Have you considered other costs of buying like cash deposits, inspection fees, legal fees, moving expenses?
IMPROVE?
-
What is the current market value of your home?
-
What improvements would make your home function better for you?
- What is the real cost of these improvements?
-
What is the average market value of the homes in your neighborhood?
-
What is the projected market value of your home after your improvements?
STRATEGY
Our decision making strategy is to look at both options individually and then complete a comparative analysis giving appropriate weight to non-financial considerations. It is important to note that there are no guarantees in life. The real estate market is very fluid. While we believe our approach can help you make the best decision for this snapshot in time, it is impossible to tell what the market or economy will do in the future. In real estate, timing really is everything!
STEPS TO MAKING A GOOD DECISION
-
Determine the market value and equity position of your home as-is.
-
Conduct market research to determine the approximate cost of your dream home.
-
Identify improvements that would turn your existing home into your dream home and estimate the cost of these improvements.
-
Estimate the market value of your home if all improvements are made (HINT: the answer is NOT your current market value + the cost of improvements).
-
Evaluate non-financial factors that could influence your decision.
-
Complete an in-depth analysis using all of the above information to see which option makes the most sense for your current circumstances.